- Chinese billet prices fell by RMB 20/t ($3/t) to RMB 2,910/t ($419/t) on 6 Feb 2026, while SHFE rebar futures declined by RMB 26/t ($4/t) to RMB 3,069/t ($442/t).
- Sentiment weakened amid pre-holiday caution, buyer resistance, and thin liquidity, exerting downward pressure on both billet and rebar futures.
- Decline in iron ore prices eroded cost support, weighing on spot billet values and limiting futures momentum amid cautious trading.
China: Billet prices slip, SHFE rebar falls on weak sentiment and softer costs
billet price China China Billet Price china steel market China: Billet prices slip Chinese steel prices February 2026 cost support steel prices iron ore price decline China pre-Lunar New Year steel demand rebar futures China SHFE rebar falls on weak sentiment and softer costs SHFE rebar futures thin liquidity steel market weak steel sentiment China
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